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How do I Dispute What The Insurance Company Says My Claim Is Worth?

December 18, 2020

If there’s an insurance company involved in your accident claim, you may submit the claim to the insurance company in hopes that they make a fair payment shortly after you file you submit the paperwork. Even though the insurance company has a duty to act in good faith and pay claims within a reasonable period of time, the insurance companies don’t always pay claims fairly based on the law and the terms of their policy. If the insurance company doesn’t pay you fairly, you might wonder what your options are. Here’s how to dispute what the insurance company says your claim is worth.

Understand the types of damages you can claim

New York is a no-fault state. No-fault laws say that you can generally seek compensation from your own insurance company even if you’re at fault for the accident. For most accidents, each party looks to their own insurance company for payment after an accident. Even if you can collect compensation from your own insurance policy, there’s no guarantee that your insurance company is going to pay you fairly for your claim.

If the insurance company doesn’t offer you fair payment for your claim, you may begin by gathering evidence and documentation to back the claim that you’re seeking. You might get a quote from a body shop in order to repair damage to your vehicle. You might need documents in order to prove that you can’t work or that you have verified medical expenses. Documentation can go a long way to showing the insurance company the true value of your claim.

Write a demand letter

One way that you can spell out your case to the insurance company is by writing a demand letter that clearly states what you want the insurance company to pay. The insurance company may respond to a letter that plainly states why you believe their offer of compensation is too low. You should back up your claim with evidence that you need in order to prove your claim. A demand letter can show the insurance company that you’re serious about pursuing fair compensation. When you deliver a demand letter to the insurance company, they know that you’re not going to stop until they resolve the matter fairly.

Understand the types of compensation that you can claim

When you dispute what the insurance company says your claim is worth, it’s important to understand what types of damages you can include in your insurance claim. If you’re filing a no-fault, first-party claim, your damages may be limited to economic damages. If you meet the threshold to go outside of the no-fault system and bring a claim for serious injuries, the damages that you claim can include amounts for pain and suffering. When you understand the types of compensation that you can include in your claim, you can appropriately dispute your claim with the insurance company.

You can file a claim

If the insurance company doesn’t agree to pay you what your claim is worth, you may dispute your claim by filing a claim in court. You can file a claim to insist that the insurance company pays you fairly. Even if the insurance company says that your claim isn’t worth a fair amount, you don’t have to accept what they say. Instead, you can bring your claim to the courtroom for the jury to decide. If you file a claim in court, you can take advantage of the formal discovery process in order to build the evidence in your claim. You may even include extra amounts that penalize the insurance company for acting in bad faith.

Challenging what the insurance company says the claim is worth

The insurance company may challenge the value of your claim, and it can be frustrating. However, you can take steps to challenge the insurance company’s value of your claim. You can approach the insurance company to provide evidence of the value of your claim. You can informally challenge the claim with records, or you can file a formal demand letter. If you’re still unsatisfied with the insurance company’s offer in your case, you can bring a claim to the appropriate court. Ultimately, you can present your case to the jury to decide the fair payment for your claim

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